Money Management Executive Latest News

The Securities and Exchange Commission, Justice Department and Internal Revenue Service are investigating more than 25 companies as to whether they illegally backdated stock option awards to executives to allow them to buy the securities at artificially low prices, thereby increasing the executives' profits when they exercised the options, Bloomberg reports.

The Securities and Exchange Commission, Justice Department and Internal Revenue Service are investigating more than 25 companies as to whether they illegally backdated stock option awards to executives to allow them to buy the securities at artificially low prices, thereby increasing the executives' profits when they exercised the options, Bloomberg reports.

Investor expenses have dropped for a second straight year, the Los Angeles Times reports.

Envision Financial Systems has added a document workflow capacity from EMC to its transfer agency system, making the Documentum ApplicationXtender part of its PowerAgent platform.

Fidelity has launched a new international stock fund, the Fidelity International Value Fund. The portfolio will be invested in undervalued foreign securities, bringing Fidelity's total line up of international funds to 20.

Assets in separately managed accounts rose 25% in the first quarter from the year-ago period, to $736.4 billion, up from $590.1 billion, according to data from the Money Management Institute. From the previous quarter, SMA assets grew 8.6%, from $678.1 billion at the end of last year.

Former U.S. Senator and Democratic vice presidential nominee John Edwards has partnered with former Congressman and Republican vice presidential nominee Jack Kemp to launch a national "Savers Society" campaign calling on companies to offer automatic 401(k) options.

Intech, the biggest driver of growth at Janus, plans to expand on its new global separately managed accounts that it launched in January for its institutional clients with new international offerings, The Wall Street Journal reports.

JPMorgan has launched five target-date funds and one retirement income fund, responding to the growing popularity of these "set it and forget it" types of funds.

Former Norbourg President Vincent Lacroix plans to appeal a court's decision to declare him bankrupt and seize his $37 million in assets, Montreal Gazette reports.